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New leaders in Mexico and Brazil may mean big changes to their respective energy sectors. Lisa Viscidi tells Richard Miles of CSIS that a Mexican delay on offshore bidding could have a major impact, but that Brazil is likely to maintain the status quo. Venezuela could take years to recover production once it emerges from its current crisis, given the massive investment required to reverse declining oil output.
Revitalizing Brazil’s energy sector will be key to Jair Bolsonaro’s success as president – but so far, he’s had mixed results when it comes to getting reforms through Congress. Unless Bolsonaro learns to work with legislators and ease turbulence within his government, Brazil’s missing energy reforms will continue to threaten its economy, and its politics.
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Brazil has vast oil reserves, but can the Bolsonaro government get the energy to market? Lisa Viscidi tells Richard Miles of CSIS that reforms are already in place that will enable oil production “to take off.” The real obstacles are the financial stability of Petrobras, the shaky state oil conglomerate, and the monopoly that the state has on most aspects of energy production, delivery, and even retail sales.
What consequences does the global context—with both lower prices and falling demand—have on Petrobras’ long-term strategies and on Brazil’s oil and gas sector in general?
The 41 percent drop in China’s first quarter GDP, compounded by the global oil price rout, has been something of a worst case scenario for the region’s producers.
To explore Lula’s plans for Brazil’s energy sector, the Inter-American Dialogue hosted the online event “Power in Brazil – Energy Policy Post-Election” on November 8, 2022.
